Rallis India sales up 20% in Q1 2013

Rallis India posted a sales growth of 20% to Rs 409.31 crores in the first quarter ended June 30,2013 ,which was mainly provided by its seed subsidiary Metahelix. The net income from operations rose by 19.4% to Rs 411.94 crores versus the same period of previous year. The Profit from operations before exceptional items was Rs 46.30 crores, an increase of 36%. Net profit was up 14% to Rs 27.49 crores.

The timely onset of the monsoon has led to healthy sowing of summer crops, which  boosted the sales at Metahelix, the seeds unit of Rallis India.Compared with the year-ago period, revenue at Metahelix jumped by 81%. Sales were driven by rice hybrids, corn and millets.The seeds business has higher margins than the core agro-chemicals. This led to a sharp expansion in EBITDA at the consolidated level, which grew by 33% to Rs 55 crores.